Source: United States Senator Kevin Cramer (R-ND)
WASHINGTON – U.S. Senator Kevin Cramer (R-ND) questioned U.S. Treasury Secretary Janet Yellen at a Senate Banking Committee hearing this week. The senator began by expressing his frustration with the Biden Administration’s fiscal policy.
“I’m not surprised, Madame Secretary, that working for money is something that your administration is against,” said Senator Cramer. “Part of the reason we have this no-longer transitory inflation, Mr. Chairman, is because we keep giving money away like it grows on trees, and we increase the demands for products while diminishing the supply.”
Senator Cramer then outlined how the Biden Administration’s climate policies will increase our reliance on foreign producers and ultimately increase global emissions.
“Net-zero, by the way Mr. Chairman,” said Senator Cramer, “means we’re just going to transfer our climate guilt to other people who don’t have a climate conscience. I’d rather set a global goal and hold the real polluters accountable, rather than reducing our economy and putting us at a disadvantage.”
The senator also expressed his concerns with President Biden calling on financial service providers to support alternative energy projects.
“Obviously that could force financial institutions to put political and social agendas ahead of their investors and banks and the American economy,” said Senator Cramer. “Do you think it’s a good idea for private businesses to be forced by a government official to make decisions about where they should or should not put their money jeopardizing jobs in our energy sectors?”
When the secretary responded by saying the Treasury provides investors with information to make decisions that are profitable, Senator Cramer criticized the Administration for clearly tilting the scale in favor of certain industries.
“So you don’t think [financial service providers] are capable of getting their own information on the risk and opportunity so you have to have a czar and a secretary and other czars giving them ‘information’ that might be helpful to their decisions?” asked Senator Cramer.
He concluded by reiterating the benefit foreign adversaries gain from the Administration’s energy policy.
“Russia, Venezuela, Saudi Arabia get the benefit of all this. Our President has to call on OPEC+ to help bring the price of gasoline down by increasing production, all while we shut down our own,” said Senator Cramer. “That doesn’t sound like a great strategy. I think you’re wrong.”